PolitiFact Virginia: McDonnell “flops” on VRS contributions
During his campaign for Governor, Bob McDonnell made it very clear that he would not force State Employees to contribute to their pension plans. He spelled out that committment with a very direct statement on his campaign web site.
“The tough fiscal climate…is no excuse for breaking a longstanding commitment to the men and women who have dedicated their careers to the service of Virginia’s people”
But as he looks to balance the state’s budget, the situation with the state’s pension plan has gone from bad to worse. Without raising taxes, McDonnell has only one place to go to make the pension system solvent, the employees themselves. That is why he has proposed a plan to force employees to contribute 5% of their salaries to their pensions. The contribution would be offset with a 3% raise, but overall employees will see a 2% drop in their take home pay.
The reporters at the Richmond Times-Dispatch determined that this moves is a “full-flop” from McDonnell. You can read their entire report on PolitiFactVirginia.com.
But was that “flop” such bad thing? We ask that question in this week’s PolitiFact Virginia Report: